Cowen Sustainable Advisors’ $200 Million Acquisition of Minority Stake in ecoATM


Paul, Weiss, Rifkind, Wharton & Garrison advised ecoATM in the transaction. Faegre Drinker Biddle & Reath LLP acted as legal advisor to CSI.

Cowen Sustainable Advisors (CSI) executed the acquisition of a significant minority stake in ecoATM for $200 million.

ecoATM, LLC is the leading automated kiosk direct-to-consumer electronic device trade-in company and a portfolio company of funds affiliated with Apollo Global Management, Inc.

The Apollo funds will remain the majority owner of ecoATM, and the existing management team will continue to lead the business.

Apollo is a leading global alternative investment manager, with assets under management of approximately $331 billion as of December 31, 2019 in private equity, credit and real estate funds.

Cowen Sustainable Advisors is a diversified financial services firm offering investment banking services, equity and credit research, sales and trading, prime brokerage, global clearing, commission management services and actively managed alternative investment products. Founded in 1918, Cowen is headquartered in New York and has offices worldwide.

Guggenheim Securities LLC and The Raine Group served as financial advisors to ecoATM and Apollo.

The Paul, Weiss team included M&A partners Taurie Zeitzer (Picture) and Justin Rosenberg; tax partners Brad Okun and Lindsay Parks; securities partner Brian Janson; finance partner Greg Ezring; employee benefits partner Lawrence Witdorchic and counsel Lauri Penn; intellectual property partner Claudine Meredith-Goujon; real estate partner Peter Fisch; antitrust partner Jonathan Kanter; and environmental counsel William O’Brien.

Involved fees earner: Gregory Ezring – Paul Weiss Rifkind Wharton & Garrison; Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Brian Janson – Paul Weiss Rifkind Wharton & Garrison; Jonathan Kanter – Paul Weiss Rifkind Wharton & Garrison; Claudine Meredith-Goujon – Paul Weiss Rifkind Wharton & Garrison; Brad Okun – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Lindsay Parks – Paul Weiss Rifkind Wharton & Garrison; Lauri Penn – Paul Weiss Rifkind Wharton & Garrison; Justin Rosenberg – Paul Weiss Rifkind Wharton & Garrison; Lawrence Witdorchic – Paul Weiss Rifkind Wharton & Garrison; Taurie Zeitzer – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: ecoATM;

Author: Ambrogio Visconti